Titan International: 1Q Earnings Snapshot
QUINCY, Ill. (AP) _ Titan International Inc. (TWI) on Thursday reported a first-quarter loss of $25.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Quincy, Illinois-based company said it had a loss of 42 cents. Losses, adjusted for non-recurring costs and asset impairment costs, were 18 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The wheel and tire supplier posted revenue of $341.5 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $365.8 million.
The company’s shares closed at $1.09. A year ago, they were trading at $5.72.